Morgan Stanley Caps Redemptions Again as 11.4% of Private Credit Fund Investors Seek Exit

TREE NEWS reports: Morgan Stanley again limited redemptions at its roughly $7 billion private credit fund in the third quarter, with investor withdrawal requests exceeding twice the amount the fund was willing to repurchase. North Haven Private Income Fund set a 5% redemption cap while investors sought to redeem 11.4% of shares, roughly flat versus the prior three months. Redemptions totaled about $479 million over the three quarters through September, with nearly two-thirds of requests coming from investors already restricted in two earlier rounds.